Article published in Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI) Journal, Volume 1, Issue 2, pp. 12-14. Dhaka, September 2022.
Bangladesh’s export sector performance in the outgoing FY2021-22 has been quite impressive by any measure: compared to FY2020-21 when Bangladesh’s global export was USD 38.76 billion, export earnings in FY2021-22 stood at USD 52.08 billion, a robust growth of 34.4 per cent. Understandably, exports of readymade garments (RMG) played a key role here since the sector accounts for about 81.0 per cent of total export of the country. Export of RMG was USD 42.6 billion in FY2021-22, posting a growth of 35.5 per cent over the preceding year. This record is truly remarkable and is a testimony to Bangladesh’s competitive strength in the global apparels market which the country was able to gradually build over the past years. However, the underlying nature and drivers of the recent growth performance merits careful consideration and closer scrutiny.
Author: Mustafizur Rahman
Publication period: September 2022